SAN FRANCISCO, Jan. 17, 2019 (GLOBE NEWSWIRE) -- As the app economy continues to grow, publishers and developers are looking for ways to accelerate their growth. Advertisers have latched on to mobile, to the point where the channel accounts for 63% of all digital ad revenue, according to the IAB. Yet publishers and app developers need to get paid as quickly as possible so that they can reinvest that ad revenue back into product development and growth strategy.
In order to increase the speed and ease with which publishers can receive and access their ad payments, Kiip, a leading mobile marketing and monetization platform, has partnered with fintech startup Qwil, a global payments and liquidity platform for the digital media industry, gig economy and SMB vendors. The collaboration marks the first time Qwil has worked directly with an ad network platform, and Kiip publisher partners Sweatcoin and Bluee are already benefiting from the on-demand access to accrued earnings.
“We can measure the success of our app in near-real time, but the flow of dollars from the advertiser to us often goes at a slower rate,” said Shaun Azam, head of finance for Sweatcoin. “By working with both Kiip and Qwil, we’re able to better match advertisers to our audience, and then access that ad revenue much quicker than before. This helps us reinvest that revenue at a faster rate, quickly solving issues or promoting new features that keep our users engaged.”
Kiip’s advertising solution is deployed by more than 10,000 apps and uses anonymous, event-level data points to connect brand advertisers with consumers during moments that matter to them. Meanwhile, Qwil’s App Economy liquidity solution addresses the long payment delays that plague the mobile and ad tech industries by offering on-demand payouts of accrued app store and ad network earnings, as well as flexible financing geared at app and game publishers looking for additional short-term capital to rapidly reinvest into user acquisition channels.
“The digital advertising industry is disappointingly opaque, with several go-betweens slowing down the flow of dollars from brand buyer to app developer,” said Brian Wong, CEO and founder of Kiip. “There’s absolutely no reason for it to be this way, which is why part of Kiip’s mission is to ensure an optimal experience for every stakeholder in the mobile ad experience. Our recent blockchain-backed product launches have sought to resolve discrepancies and inject transparency into the mobile ad ecosystem. This partnership with Qwil goes one step further, accelerating the payment timeline to ensure our app partners can continue to grow.”
In addition to the App Economy solution, Qwil’s payment infrastructure helps Kiip with global payment processing and on-demand payouts, avoiding the cash flow gaps that often arise from long advertiser/brand payment collection times.
“Qwil realized there was, and is, an unaddressed pain point in the ad tech industry--long payment cycles leading to cash flow gaps for all parties involved,” said Qwil founder and CEO Johnny Reinsch. “With this partnership, Qwil has enabled Kiip to seamlessly offer up on-demand payouts to its publisher base, allowing publishers to have better control of their cash flow and rapidly reinvest into user acquisition.”
About Kiip
Kiip is the leading ad tech and data platform powering mobile advertising that people like. To date, Kiip has worked with more than 500 brands, including Coca-Cola, Kellogg’s, Procter & Gamble, Johnson & Johnson, and McDonald’s, and is integrated into more than 10,000 mobile apps. Founded in 2010, Kiip has raised more than $32 million in venture capital and is backed by Hummer Winblad, Relay Ventures, True Ventures, Verizon Ventures, U.S. Cellular, American Express Ventures, IPG and others. Connect with Kiip at www.kiip.me/audiences.
About Qwil
Qwil is a leading fintech company and provider of a global payments and liquidity platform for the digital media industry, gig economy, and SMB vendors. Qwil enables companies and marketplaces to access on-demand liquidity and offer streamlined payments to their independent contractor workforce across the globe. Based in San Francisco, Qwil has raised more than $150 million from venture capital funds and financial institutions since 2016. Qwil was named the Start-Up of the Year at the 2017 Pay Awards. Learn more at qwil.co and connect with us on Facebook and LinkedIn.
Media Contact
Rich Cherecwich
WIT Strategy for Kiip
rcherecwich@witstrategy.com
(774) 254-0952